xbrl riding the next wave

XBRL Riding the next waveFrom Financial Reporting to Business Decision Making

XBRL XXVYokohamaXBRL XXVYokohama

Gautam MahantiIRIS Business Services Limited

XBRL Evolution: Past Present and Future


But now its time to bite the bullet…

• XBRL is regulatory reporting– If tomorrow the regulator stops demanding reports in XBRL format,

how many Enterprises would continue to adopt the standard?

• XBRL is too complex and technical– How many Business users actually understand XBRL

• XBRL is actually an overhead to my existing data– How many Business users actually feel that XBRL is adding value to

their business operations


• XBRL is regulatory reporting– If tomorrow the regulator stops demanding reports in XBRL format,

how many Enterprises would continue to adopt the standard?

• XBRL is too complex and technical– How many Business users actually understand XBRL

• XBRL is actually an overhead to my existing data– How many Business users actually feel that XBRL is adding value to

their business operations

Organizations are Operating with Blind Spots!!

52% of usersdon’t have confidence in their information

59% of managersmiss information they should have used

XBRL XXVYokohama

miss information they should have used

Sources: Accenture 2009 Managers Survey and AIIM 2010 Survey

42% of managersuse wrong information at least once in a week

So is there is a business case when…

• XBRL goes beyond financial reporting– Data is made available to business users on demand for business

decision making

• The myth around ‘XBRL’ being complex is dropped– XBRL is just another way of structuring my data and there is nothing

technical about it

• XBRL ensures a greater trust in the data– XBRL makes the data clean, consistent and contextual


• XBRL goes beyond financial reporting– Data is made available to business users on demand for business

decision making

• The myth around ‘XBRL’ being complex is dropped– XBRL is just another way of structuring my data and there is nothing

technical about it

• XBRL ensures a greater trust in the data– XBRL makes the data clean, consistent and contextual

Making this work…

XBRL’ise

GL

Layer

XBRL’ise

GL

Layer

Business Intelligenceand Analytics

REAL TIME

AUTOMATED

Analysis

Financial Reports


XBRL’ise

GL

Layer

XBRL’ise

GL

LayerExternal files

Business Intelligenceand Analytics

SOURCE DATA NORMALISED DATA CONSUMPTION

AUTOMATED

SCHEDULED

Dashboards

External

Internal

How does GL help…

• Ability to track data at a granular level– Receivables

• By Party• By Location• By Value• By Maturity Date

• Normalize data from multiple sources to a standard Chart ofAccounts

• Build traceability until the source• Making data available for any BI tool to consume

XBRL GL, the Global Ledger Framework can represent all ERPdetailed data; it’s much more than General ledger


• Ability to track data at a granular level– Receivables

• By Party• By Location• By Value• By Maturity Date

• Normalize data from multiple sources to a standard Chart ofAccounts

• Build traceability until the source• Making data available for any BI tool to consume

• Server based, Enterprise class edition• Multi source data integration, ERP integration• Configurable to company’s legal and organizational

structure• Works with financial and non financial data, leverages

XBRL GL• Add on modules for Financial consolidation and Multi

GAAP reporting• BI integration for reporting and analytics

Accountants Integrated Engine (Beta Release)

End to end Financial Reporting Consolidation Multi GAAP Reporting


• Server based, Enterprise class edition• Multi source data integration, ERP integration• Configurable to company’s legal and organizational

structure• Works with financial and non financial data, leverages

XBRL GL• Add on modules for Financial consolidation and Multi

GAAP reporting• BI integration for reporting and analytics

iAXE : An overview…

ERP

Balancesheet,P&L

TrialBalance

CostAccountant

Extraction

XBRL GLDataMappingEngine

XBRL GLDataMappingEngine

Global ledger taxonomy

XBRL FRReportingMapper

XBRL FRInstanceGenerator


XBRLinstance

Country specific FR taxonomies


TrailBalanceeditor



XBRLinstance

Consolidation EngineCountry specific

Templates, Annotations formulas, comments

IFRS Transforming Engine



XBRLinstance

ConsolidationEngine(IFRS)

Extensionsenabler

Configure: Mimic the organization's legal structure


Workflow: Role wise authorization


Connect: Source data upload


Normalize: Map user elements to std GL


Connecting GLs and Extend GL


Connecting GL to FR


Decision Making: Reports and Dashboards
